TripActions, a Palo Alto, CA-based business travel platform, raised $250m in Series D funding round.
The round, which brought total funding raised to date to more than $480m, was led by Andreessen Horowitz, with participation from Zeev Ventures, Lightspeed Ventures, Group 11 (fka SGVC), among other venture capital firms.
The funding, which increased the company’s valuation to $4 billion, will be used to grow TripAction’s global presence, including increasing headcount in the EMEA region.
Led by Ariel Cohen, co-founder & CEO, and Ilan Twig, co-founder & CTO, TripActions is a business travel platform for organizations of every size, industry and geography. The company manages more than $1.1 billion in annual travel budget, serving more than 2,000 customers around the world—including WeWork, Lyft, SurveyMonkey, Chubbies, Marine Layer, Complex Networks and Sara Lee Frozen Bakery.
TripActions now has more than 700 employees across nine offices globally, including in Amsterdam, Chicago, Dallas, London, New York, Palo Alto, San Francisco, Seattle and Sydney.